Can financial technology development change the causality between tourism and economic growth?

Wu, Po-Chin; Liu, Huiyu; Liu, Shiao-Yen; Hsiao, Juei-Ming

doi:10.1080/13683500.2020.1828307

Cited by 15 publications

(7 citation statements)

References 26 publications

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“…As tourism’s status in economic development continues to increase, the relationship between tourism development and economic growth is a hot topic for research and indeed is becoming a trend in the tourism literature (Wu et al, 2021). However, evidence shows that tourism also has a particular impact on the environment.…”

Section: Literature Reviewmentioning

confidence: 99%

The Robust Causal Relationships Among Domestic Tourism Demand, Carbon Emissions, and Economic Growth in China

et al. 2021

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Green and low-carbon development has become a compelling trend of our time. To formulate policies for development and also reduction of carbon emissions, quantifying the trend of tourism in green sustainable development is an essential issue for China, which is undergoing an economic transformation. This study first measured China’s domestic tourism carbon emissions through a bottom-up approach and then used the robust Granger causality test on annual data from 1993 to 2019 to investigate the relationships among China’s domestic tourism revenue, carbon emissions, and economic growth. The empirical results show that: (1) Carbon emissions of the domestic tourism industry are growing steadily, and the carbon emissions of the transportation industry determine the trend of the total carbon emissions of the domestic tourism industry, (2) long-term equilibrium relationships exist among China’s domestic tourism, carbon emissions, and economic growth, and (3) bidirectional causal relationships among economic growth, carbon emissions, and domestic tourism revenue have been detected with the robust Granger causality test, and the time-varying causal relationships may change markedly in these times of significant events and policy changes. Therefore, policymakers should coordinate the relationships among domestic tourism revenue, carbon emissions, and economic growth, in an effort to promote the development of sustainable tourism in China.

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Section: Literature Reviewmentioning

confidence: 99%

The Robust Causal Relationships Among Domestic Tourism Demand, Carbon Emissions, and Economic Growth in China

et al. 2021

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“…China has experienced favourable outcomes of green innovation (GINV) because, as per the above authors' analysis, its bank, the Green Technology Bank, operated by the United Nations, supports green technology inventions. Wu et al (2021) found that one of the undeniable benefits of GTI is “guaranteed economic growth,” which means efficiency and uniqueness that mitigates environmental pollution and enhances the green ecosystem. However, Razzaq et al (2021) supported the instigation of green technology innovation through a proper analysis of the traditional linear model of technological innovation.…”

Section: Introductionmentioning

confidence: 99%

Nexus between green technology innovation, green financing, and CO₂ emissions in the G7 countries: The moderating role of social globalisation

Sharif

Saqib

Dong

et al. 2022

Sustainable Development

227

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Policymakers face a daunting task when it comes to achieving sustainable environmental development and avoiding additional environmental degradation. This study examines the significance of green technology innovation and green financing in creating a more sustainable environment. The impact of green technology innovation and green investment on carbon dioxide (CO2) emissions has yet to be empirically and theoretically examined in the literature, especially in conjunction with a moderating component, particularly social globalisation. Accordingly, this research examines the role of green technological innovation and green financing in reducing CO2 emissions in the G7 countries. Our study uses empirical research data from a panel of the G7 countries covering the period 1995 to 2019. We employ advanced panel approaches to address panel data analysis concerns, such as cross‐sectional dependence, structural break, and slope heterogeneity (the Banerjee and Carrion‐i‐Silvestre unit root and cointegration test and cross‐sectional augmented ARDL). This study shows that green technology innovation (GINV) as well as green financing (GFIN) have a negative but significant impact on CO2 emissions. Whilst economic growth has shown a positive and significant impact on CO2 emissions in the G7 countries, social globalisation positively moderates the relationship between CO2 emissions and GDP, but negatively and significantly causes GFIN and GINV with CO2 emissions amongst the G7 countries. According to our study, countries would be able to meet the United Nations' SDG‐7 and SDG‐13 targets if they implemented green financing and green technology policies.

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“…(2) Fintech in tourism and hospitality Fintech has become an increasingly important aspect of the financial services industry in recent years, with its development having a significant impact on the broader economy (Wu et al, 2021). Digital payments are expected to have a significant impact on the tourism and hospitality as they offer numerous benefits, including convenience, speed and security.…”

Section: Rq12 In the Tourism And Hospitality What Are Blockchain Fint...mentioning

confidence: 99%

Digital transformation in tourism and hospitality industry: a literature review of blockchain, financial technology, and knowledge management

Ratna,

Saide,

Putri

et al. 2023

EMJB

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PurposeThis study aims to provide a new overview and opportunities of blockchain (BCT), financial technology (fintech) and knowledge management (KM) over the past ten years. Its focus is on their potential to drive new value creation and innovation processes within the digital landscape of the tourism and hospitality.Design/methodology/approachThis systematic literature review and sociotechnical approach employs a literature analysis, analyzing and synthesizing 62 relevant articles published in the past decade form e-databases (Web of Science and Scopus).FindingsThis study reveals that researchers frequently discuss the potential advantages and challenges of BCT, fintech and KM in this industry. These include establishing systems that prioritize transparency and traceability, addressing blockchain security concerns, enhancing financial transaction efficiency and trustworthiness, and promoting innovation and improvement through KM strategies. Furthermore, this review suggests that the application of blockchain, fintech and KM has the potential to create new markets and opportunities in the tourism and hospitality industry. This study provides insights into the state and implementation of technology-based and knowledge-based for tourism and hospitality in times of crisis and digitization era.Practical implicationsShifting to new lens (refers to sociotechnical theory), from technology adoption strategy, it is important to stay updated with emerging technologies such as BCT and fintech and upcoming technologies trends must align with tourism and hospitality business objectives, customer expectations and market demands. From the socio-dimension, KM is not confined to technological tools alone. Instead, it is a strategic approach that emphasizes fostering a culture of open communication, collaboration and knowledge sharing within the team of tourism and hospitality industry.Originality/valueThrough a literature review approach, this study establishes a new foundation in tourism and hospitality such as analyzing research gaps, understanding benefits and challenges, supporting methodologies/theoretical frameworks and informing the future research opportunities. Additionally, a novel contribution is the inclusion of sociotechnical approach that is allocated into socio or knowledge resources perspective (knowledge management), and technical or technology perspective (blockchain and fintech) that drives tourism and hospitality innovation.

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Can financial technology development change the causality between tourism and economic growth?

Cited by 15 publications

References 26 publications

The Robust Causal Relationships Among Domestic Tourism Demand, Carbon Emissions, and Economic Growth in China

The Robust Causal Relationships Among Domestic Tourism Demand, Carbon Emissions, and Economic Growth in China

Nexus between green technology innovation, green financing, and CO₂ emissions in the G7 countries: The moderating role of social globalisation

Digital transformation in tourism and hospitality industry: a literature review of blockchain, financial technology, and knowledge management

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Can financial technology development change the causality between tourism and economic growth?

Cited by 15 publications

References 26 publications

The Robust Causal Relationships Among Domestic Tourism Demand, Carbon Emissions, and Economic Growth in China

The Robust Causal Relationships Among Domestic Tourism Demand, Carbon Emissions, and Economic Growth in China

Nexus between green technology innovation, green financing, and CO2 emissions in the G7 countries: The moderating role of social globalisation

Digital transformation in tourism and hospitality industry: a literature review of blockchain, financial technology, and knowledge management

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Nexus between green technology innovation, green financing, and CO₂ emissions in the G7 countries: The moderating role of social globalisation